ENXTPA:FNAC

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Fnac Darty SA operates as an omni-channel retailer of cultural and leisure goods, consumer electronics, and household appliances in France, Switzerland, Iberian Peninsula, and Benelux. More Details


Snowflake Analysis

Fair value with moderate growth potential.


Similar Companies

Share Price & News

How has Fnac Darty's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FNAC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.5%

FNAC

1.4%

FR Specialty Retail

0.4%

FR Market


1 Year Return

-30.4%

FNAC

-32.7%

FR Specialty Retail

-6.0%

FR Market

Return vs Industry: FNAC exceeded the French Specialty Retail industry which returned -36% over the past year.

Return vs Market: FNAC underperformed the French Market which returned -8.5% over the past year.


Shareholder returns

FNACIndustryMarket
7 Day0.5%1.4%0.4%
30 Day4.9%1.5%-1.8%
90 Day4.0%5.1%-3.2%
1 Year-30.4%-30.4%-32.1%-32.7%-3.9%-6.0%
3 Year-52.4%-52.4%-52.2%-53.4%4.1%-5.0%
5 Year-30.2%-30.2%-23.7%-26.4%34.4%14.4%

Price Volatility Vs. Market

How volatile is Fnac Darty's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Fnac Darty undervalued compared to its fair value and its price relative to the market?

14.2x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FNAC (€38.4) is trading above our estimate of fair value (€18.6)

Significantly Below Fair Value: FNAC is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: FNAC is good value based on its PE Ratio (14.2x) compared to the XE Specialty Retail industry average (16.1x).

PE vs Market: FNAC is good value based on its PE Ratio (14.2x) compared to the French market (17x).


Price to Earnings Growth Ratio

PEG Ratio: FNAC is good value based on its PEG Ratio (0.4x)


Price to Book Ratio

PB vs Industry: FNAC is overvalued based on its PB Ratio (0.8x) compared to the FR Specialty Retail industry average (0.4x).


Next Steps

Future Growth

How is Fnac Darty forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

38.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FNAC's forecast earnings growth (38.8% per year) is above the savings rate (0.6%).

Earnings vs Market: FNAC's earnings (38.8% per year) are forecast to grow faster than the French market (24.6% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FNAC's revenue (3% per year) is forecast to grow slower than the French market (6.7% per year).

High Growth Revenue: FNAC's revenue (3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FNAC's Return on Equity is forecast to be low in 3 years time (9.2%).


Next Steps

Past Performance

How has Fnac Darty performed over the past 5 years?

21.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FNAC has a large one-off loss of €40.3M impacting its June 30 2020 financial results.

Growing Profit Margin: FNAC's current net profit margins (1%) are lower than last year (1.7%).


Past Earnings Growth Analysis

Earnings Trend: FNAC's earnings have grown significantly by 21.7% per year over the past 5 years.

Accelerating Growth: FNAC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FNAC had negative earnings growth (-39%) over the past year, making it difficult to compare to the Specialty Retail industry average (-19.4%).


Return on Equity

High ROE: FNAC's Return on Equity (5.4%) is considered low.


Next Steps

Financial Health

How is Fnac Darty's financial position?


Financial Position Analysis

Short Term Liabilities: FNAC's short term assets (€2.5B) do not cover its short term liabilities (€2.9B).

Long Term Liabilities: FNAC's short term assets (€2.5B) exceed its long term liabilities (€2.2B).


Debt to Equity History and Analysis

Debt Level: FNAC's debt to equity ratio (114.7%) is considered high.

Reducing Debt: FNAC's debt to equity ratio has increased from 0% to 114.7% over the past 5 years.

Debt Coverage: FNAC's debt is well covered by operating cash flow (28.1%).

Interest Coverage: FNAC's interest payments on its debt are well covered by EBIT (4.1x coverage).


Balance Sheet


Next Steps

Dividend

What is Fnac Darty current dividend yield, its reliability and sustainability?

3.18%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate FNAC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FNAC's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FNAC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FNAC's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: FNAC is not paying a notable dividend for the French market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FNAC's dividend in 3 years as they are not forecast to pay a notable one for the French market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.5yrs

Average management tenure


CEO

Enrique Martinez (49 yo)

3.17yrs

Tenure

€750,000

Compensation

Mr. Enrique Martinez has been the Chief Executive Officer at Fnac Darty SA since July 17, 2017 and has been Director since May 23, 2019. He began his career with Toys’R Us. In 1998, he joined Fnac Darty wi ...


CEO Compensation Analysis

Compensation vs Market: Enrique's total compensation ($USD880.70K) is above average for companies of similar size in the French market ($USD669.80K).

Compensation vs Earnings: Enrique's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Enrique Martinez
CEO & Director3.17yrs€750.00k0.29%
€ 2.9m
Jean-Brieuc Le Tinier
Group Chief Financial Officerno datano datano data
Olivier Theulle
Director of Operations & Information Systems6.75yrsno datano data
Stéphanie Constand-Atellian
Director of Financing & Investor Relations3.5yrsno datano data
Benjamin Perret
Director of Communications & Public Affairsno datano datano data
Annabel Chaussat
Director of Marketing & e-Commerce2.5yrsno datano data
Frédérique Giavarini
Director of Human Resources6.67yrsno datano data
Marcos Ruao
Chief Executive Officer of Fnac Spain7.67yrsno datano data
Charles-Henri de Maleissye
Chief Executive Officer of Fnac Vanden Borre in Belgium5.5yrsno datano data

5.5yrs

Average Tenure

48.5yo

Average Age

Experienced Management: FNAC's management team is seasoned and experienced (5.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Enrique Martinez
CEO & Director3.17yrs€750.00k0.29%
€ 2.9m
Daniela Weber-Rey
Independent Director2.75yrs€47.58k0.00094%
€ 9.6k
Jacques Veyrat
Independent Chairman of the Board3.17yrsno data0.00094%
€ 9.6k
Nonce Paolini
Independent Director7.42yrs€37.30k0.00094%
€ 9.6k
Jean-Marc Janaillac
Independent Director1.33yrs€13.37kno data
Antoine Gosset-Grainville
Independent Vice Chairman of the Board2.75yrs€45.01k0.00094%
€ 9.6k
Sandrine Lagumina
Independent Director2.75yrs€43.26k0.00094%
€ 9.6k
Caroline Sainte-Marie
Independent Director2.33yrs€25.55k0.00094%
€ 9.6k
Carole Ferrand
Independent Director7.42yrs€60.44k0.00094%
€ 9.6k
Brigitte Taittinger-Jouyet
Independent Director7.42yrs€33.87k0.00094%
€ 9.6k
Delphine Mousseau
Independent Director2.75yrs€29.87k0.00097%
€ 9.9k
Javier Santiso
Independent Director1.33yrs€9.37kno data

2.8yrs

Average Tenure

56yo

Average Age

Experienced Board: FNAC's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Fnac Darty SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Fnac Darty SA
  • Ticker: FNAC
  • Exchange: ENXTPA
  • Founded: 195
  • Industry: Computer and Electronics Retail
  • Sector: Retail
  • Market Cap: €1.018b
  • Shares outstanding: 26.51m
  • Website: https://www.fnacdarty.com

Number of Employees


Location

  • Fnac Darty SA
  • 9, rue des Bateaux-Lavoirs
  • ZAC Port d’Ivry
  • Ivry-sur-Seine
  • Ile-de-France
  • 94200
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FNACENXTPA (Euronext Paris)YesOrdinary SharesFREURJun 2013
FNACPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJun 2013
GRUP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 2013
0QSHLSE (London Stock Exchange)YesOrdinary SharesGBEURJun 2013
1FNDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 2013

Biography

Fnac Darty SA operates as an omni-channel retailer of cultural and leisure goods, consumer electronics, and household appliances in France, Switzerland, Iberian Peninsula, and Benelux. The company offers c ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/30 21:47
End of Day Share Price2020/09/30 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.